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Genoa now under new American ownership

American investment firm completes acquisition of Italy's oldest club

September 23, 2021 By Michelle Bonsu
Topics: Genoa, Serie A
The Grifone, who are commonly referred to as Italy's oldest club, are now the latest Serie A side to be taken over by American ownership.

Over the past decade or so, American businesses have increasingly gotten more involved in Serie A, with ownership of Italian top flight clubs now changing drastically.

As of the 2021/22 season, there are now six clubs under American ownership: AC Milan, Fiorentina, Spezia, Roma, Venezia, and most recently, Genoa.

According to reports, Genoa, who were founded in 1893 and are thus Italy's oldest still running club, have now joined this group. 777 Partners, a Miami-based private investment firm recently completed their acquisition of the Grifone for an estimated $175.80 million(€150 million) from owner Enrico Preziosi. This deal, which sees  777 Partners acquire a majority stake in the company, will help inject some much-needed fresh capital into the struggling club, who lost about €33 million last year due to the COVID-19 crisis.

 


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